Creadit Cards Frauds

2.1 Introduction: Credit vizors ar the transaction between the pester holders, merchant and the bank and the transactions are through with(p) in a step by step manner. In the business establishment today extension twit frauds is ace of the biggest threats. The fraudsters apply a number of modus operandi to commit the frauds and in rove to combat that every individual should know the deceitful mechanism. The fraudulent mechanism is of two types traditional methods and modern methods. The important feature is an individual should be aware of the techniques and protect the mentality. The card safeguard mechanisms use cryptographic methods. Some of the cryptographic methods are upright socket layer protocol (SSL) and secure electronic transaction protocol (SET). The customers should be aware of the prevention methods to avoid reference work card frauds. The credit card industries are under great spillage due to increasing frauds. They pay billions of dollars due to credit card frauds. The merchants are the worst suffer the most as they bequeath not get the specie back, whereas the cardholders have stress and tension. 2.2 go off of relevant literature and researches: Credit baits: Credit Card is a form of payment card which is made of shaping and can be used for transactions.

Many shops and supermarkets accept credit card as a mode of payment so that it is made easy for the customers to pay. The card holder uses it for purchase of goods and run on a condition that they will repay the money to the bank on a later date. There are different types of credit cards namely Standard credit cards, Credit cards with reward program, Airline miles/frequent aeronaut credit cards, Credit cards for bad credit and military posture credit cards (Creditcards 2010). The face of the card encloses the identification of the card holder and the issuer, the validity and the expiry date of the card and the card serial number; it is 16 to 20 digits which are divided up into groups of 4 or 5; these digits represents... If you want to get a full essay, order it on our website: Orderessay

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